Intel DCF Model - Intrinsic Value
Intel DCF Assumptions:
Tax Rate = 12.0%
Discount Rate = 7.4%
Perpetual Growth Rate = 2.0%
EV/EBITDA Multiple = 9.0x
Transaction Date = 28/02/2022
Fiscal Year-End = 25/12/2022
Current Price = $47.71
Shares Outstanding (m) = 4,072
Debt (m) = $38,101
Cash (m) = $28,413
Capex (m) = $20,329
Base Case Scenario
In addition to the above assumptions, the below DCF model is based on our base case scenario, which assumes a revenue growth over the next five years of -4%, 4%, 5%, 8%, 10%. These assumptions are slightly lower than analysts’ forecasts.
DCF (5Y) EBITDA EXIT MODEL:
Terminal Value
Final Forecast EBITDA (m) = $44,337
EV/EBITDA Multiple = 9.0x
TERMINAL VALUE (m) = $339,031
Intrinsic Value
Final Forecast EBITDA (m) =$44,337
EV/EBITDA Multiple = 9.0x
TERMINAL VALUE (m) = $339,031
DCF (5Y) PERPETUAL GROWTH RATE MODEL
Terminal Value
Enterprise Value (m) = $324,750
Plus: Cash (m) = $28,413
Less: Debt (m) = $38,101
Equity Value (m) = $315,062
EQUITY VALUE / SHARE = $77.37
Intrinsic Value
Enterprise Value (m) = $262,768
Plus: Cash (m) = $28,413
Less: Debt (m) = $38,101
Equity Value (m) = $253,080
EQUITY VALUE / SHARE = $62.15
DISCLAIMER:
All information is the author’s views, opinions, and assumptions at the time of writing, and Bull Headed Bear makes no guarantees of the information’s reliability and accuracy. The information is to be used for entertainment and informative purposes only. Bull Headed Bear and its authors reserve the right to change their views, opinions and assumptions due to many influencing factors.
Any actions taken based on the information on the website is strictly at your own risk. All investments carry a risk of loss, and you could lose all your money. Consider seeking professional advice from a financial advisor. Bull Headed Bear and its authors will not be liable for any losses or damages from the information on this site.
DISCLOSURE:
I/we have open long positions in Intel. We may increase this position depending on market movements over the coming weeks.
Tax Rate = 12.0%
Discount Rate = 7.4%
Perpetual Growth Rate = 2.0%
EV/EBITDA Multiple = 9.0x
Transaction Date = 28/02/2022
Fiscal Year-End = 25/12/2022
Current Price = $47.71
Shares Outstanding (m) = 4,072
Debt (m) = $38,101
Cash (m) = $28,413
Capex (m) = $20,329
Base Case Scenario
In addition to the above assumptions, the below DCF model is based on our base case scenario, which assumes a revenue growth over the next five years of -4%, 4%, 5%, 8%, 10%. These assumptions are slightly lower than analysts’ forecasts.
DCF (5Y) EBITDA EXIT MODEL:
Terminal Value
Final Forecast EBITDA (m) = $44,337
EV/EBITDA Multiple = 9.0x
TERMINAL VALUE (m) = $339,031
Intrinsic Value
Final Forecast EBITDA (m) =$44,337
EV/EBITDA Multiple = 9.0x
TERMINAL VALUE (m) = $339,031
DCF (5Y) PERPETUAL GROWTH RATE MODEL
Terminal Value
Enterprise Value (m) = $324,750
Plus: Cash (m) = $28,413
Less: Debt (m) = $38,101
Equity Value (m) = $315,062
EQUITY VALUE / SHARE = $77.37
Intrinsic Value
Enterprise Value (m) = $262,768
Plus: Cash (m) = $28,413
Less: Debt (m) = $38,101
Equity Value (m) = $253,080
EQUITY VALUE / SHARE = $62.15
DISCLAIMER:
All information is the author’s views, opinions, and assumptions at the time of writing, and Bull Headed Bear makes no guarantees of the information’s reliability and accuracy. The information is to be used for entertainment and informative purposes only. Bull Headed Bear and its authors reserve the right to change their views, opinions and assumptions due to many influencing factors.
Any actions taken based on the information on the website is strictly at your own risk. All investments carry a risk of loss, and you could lose all your money. Consider seeking professional advice from a financial advisor. Bull Headed Bear and its authors will not be liable for any losses or damages from the information on this site.
DISCLOSURE:
I/we have open long positions in Intel. We may increase this position depending on market movements over the coming weeks.
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